Hill-Rom leverage falls to 3.2x after refinancing of long-term bonds

By Devika Patel

Knoxville, Tenn., Jan. 24 – Hill-Rom Holdings, Inc. refinanced some bonds last quarter and saw its leverage ratio drop to 3.2x as of Dec. 31, 2019.

“In terms of the balance sheet and financial leverage, we completed the refinancing of our long-term bonds during the quarter and maintained a debt to EBITDA ratio at the end of December of 3.2x,” chief financial officer Barbara W. Bodem said on the company’s first quarter ended Dec. 31, 2019 earnings conference call on Friday.

“We did end the year at 3.2x.

“It is a lower 3.2x than the 3.2x we had at the end of our fiscal year, the prior quarter, so we are generating good cash flow and our leverage is coming down pretty steadily as we go,” she said.

Free cash flow was $53 million for the quarter.

Cash and cash equivalents were $204.4 million as of Dec. 31, 2019, compared to $214.1 million as of Sept. 30, 2019.

Long-term debt was $1,766,300,000 as of Dec. 31, 2019, compared to $1,783,100,000 as of Sept. 30, 2019.

Hill-Rom is a Chicago-based medical technology company.

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